The three countries will also push ahead with greater domestic consumption of the commodity, according to the Bangkok-based International Rubber Consortium Ltd (IRCo).
KUALA LUMPUR: The government has no plans to implement a floor price for scrap rubber as it would involve a high allocation, said the Primary Industries Ministry.
The ministry said that based on 2017 production, if the scrap rubber floor price was set at RM4 per kg, it would cost the government an additional allocation of RM2.5bil a year.
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